Financial Performance - Revenue for the year ended December 31, 2024, was approximately RMB 2,261.3 million, an increase of about 2.0% compared to the previous year, driven by growth in construction services revenue[3] - Gross profit amounted to RMB 1,089.0 million, reflecting a 1.2% increase, with a stable gross margin of 48.2% compared to 48.5% in the previous year[3] - Net profit attributable to the parent company was approximately RMB 168.0 million, representing a significant increase of about 34.6% due to reduced financing costs and income tax expenses[3] - Basic and diluted earnings per share for ordinary shareholders were RMB 7.85, up approximately 34.6% from RMB 5.83 in the previous year[3] - The total revenue for the Urban Water Division reached RMB 2,160,205,000, while the total revenue for the Water Environment Comprehensive Management Division was RMB 22,133,000, and the Rural Wastewater Management Division generated RMB 78,944,000, leading to a combined total revenue of RMB 2,261,282,000[24] - The adjusted profit before tax for the Urban Water Division was RMB 460,393,000, the Water Environment Comprehensive Management Division reported RMB 25,182,000, and the Rural Wastewater Management Division had RMB 21,969,000, resulting in a total adjusted profit before tax of RMB 507,544,000[24] - The company reported a total segment profit of RMB 484,721,000 for the year, down from RMB 512,121,000 in the previous year, indicating a decrease of approximately 5.4%[27] - The group reported a decrease in trade receivables from joint ventures to RMB 99,297,000 in 2024, down from RMB 108,664,000 in 2023, representing a decline of about 12.63%[62] Cash Flow and Liquidity - Net cash inflow from operating activities was RMB 403.1 million, an increase of 37.6% compared to the previous year[3] - The net cash flow from operating activities was RMB 403.1 million for the year ended December 31, 2024, compared to RMB 292.9 million for the previous year[102] - The net cash flow from investing activities was RMB 151.8 million for the year ended December 31, 2024, compared to RMB 12.8 million for the previous year[102] - The group’s cash flow from financing activities showed a net outflow of RMB 626.0 million for the year ended December 31, 2024, compared to a net outflow of RMB 257.1 million for the previous year[102] - As of December 31, 2024, the group's cash and cash equivalents amounted to RMB 177.1 million, a decrease of approximately RMB 71.3 million from RMB 248.4 million on December 31, 2023[106] Assets and Liabilities - Total non-current assets increased from 12,139,651 thousand RMB in 2023 to 12,615,934 thousand RMB in 2024, reflecting a growth of approximately 3.9%[8] - Current assets rose from 6,657,776 thousand RMB in 2023 to 6,611,428 thousand RMB in 2024, indicating a slight decrease of about 0.7%[8] - Total liabilities decreased from 5,771,449 thousand RMB in 2023 to 5,302,629 thousand RMB in 2024, representing a reduction of approximately 8.1%[10] - The total assets decreased from 13,455,913 thousand RMB in 2023 to 13,851,297 thousand RMB in 2024, reflecting a decline of approximately 2.9%[10] - The total interest-bearing debt decreased to RMB 9,854.0 million as of December 31, 2024, down from RMB 9,917.0 million on December 31, 2023, with 69.4% classified as long-term debt[107] - The group's asset-liability ratio improved to 68.6% as of December 31, 2024, compared to 69.6% in the same period last year[108] Capital Expenditures and Investments - Capital expenditures for the year totaled RMB 34,761,000, which includes investments in property, plant, and equipment[29] - The group invested RMB 165.1 million and RMB 258.4 million in BOT/TOT and PPP projects, respectively, for the years ended December 31, 2024, and December 31, 2023[102] - The group aims to focus on stable cash flow from urban water services while selectively investing in value-added areas along the water industry chain[76] Financing and Costs - Total financing costs amounted to RMB 544.211 million in 2024, down from RMB 578.719 million in 2023, reflecting a reduction of approximately 6%[45] - The total service costs for construction services in 2024 are RMB 208,253,000, slightly increasing from RMB 206,487,000 in 2023[46] - The total service costs for operating services in 2024 are RMB 964,015,000, compared to RMB 933,900,000 in 2023, reflecting an increase of approximately 3.3%[46] - Other expenses increased by approximately 103% to RMB 88.3 million, compared to RMB 43.4 million in the previous year, mainly due to increased foreign exchange losses[92] Shareholder Information - The board of directors does not recommend the payment of a final dividend for the year ended December 31, 2024, similar to the previous year[115] - The weighted average number of ordinary shares outstanding remains constant at 2,139,735,000 for both 2024 and 2023[53] - The group has maintained at least 25% of its issued share capital held by the public as of December 31, 2024, in compliance with the Hong Kong Stock Exchange regulations[117] Compliance and Governance - The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and are presented in Renminbi (RMB) rounded to the nearest thousand[11] - The Audit Committee, consisting of three independent non-executive directors, has reviewed and approved the financial performance for the year ending December 31, 2024[119] - The company has confirmed compliance with the Standards of Conduct for Directors in Securities Transactions as of December 31, 2024[121] Operational Highlights - The group has established 110 service concession projects, including 104 wastewater treatment plants, 1 water supply plant, 3 sludge treatment plants, and 2 recycled water treatment plants as of December 31, 2024[77] - The operational capacity for wastewater treatment is 4,089,500 tons per day, with a total processing capacity of 4,325,550 tons per day including water supply and recycled water[78] - The group has 100 operational wastewater treatment projects, 2 reclaimed water treatment projects, and 3 sludge treatment projects as of December 31, 2024[81]
康达环保(06136) - 2024 - 年度业绩